The group is targeting to maintain the same level of loans growth of 5% to 7% that is similar to what was achieved last year, group chief executive officer Kamarul Ariffin Mohd Jamil said after its AGM here yesterday.
KUALA LUMPUR: Affin Holdings Bhd
has received the approvals from the Finance Minister and Bank Negara Malaysia to proceed with the banking group’s proposed reorganisation.
The reorganisation entails the transfer of Affin’s entire shareholding in Affin Hwang Investment Bank Bhd, Affin Moneybrokers Sdn Bhd, AXA Affin Life Insurance Bhd and AXA Affin
General Insurance Bhd to Affin Bank Bhd.
Affin had also received the approval from the Securities Commission for the change in the ultimate shareholder of Affin Hwang IB, Affin Hwang Asset Management Bhd and AIIMAN Asset
Management Sdn Bhd pursuant to the proposed reorganisation.
Affn is now working to obtain the other necessary regulatory approvals to proceed with the proposed reorganisation.
“In view of the changing dynamics of the economy and industry, it is critical that we put in place the right strategies centred on efficiency, adaptability and productivity to thrive and differentiate ourselves. The proposed reorganisation will enhance the Affin Group’s synergy and allow us to move forward for the next phase of our growth,” group CEO Kamarul Ariffin Mohd Jamil said in a statement.
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